CBS Agrees To Acquire Clicker Media, Names New Interactive Pres

DOW JONES NEWSWIRES

CBS Corp. (CBS) said it agreed to acquire Clicker Media Inc.--an Internet guide of legal broadcast programming content that can be found online--and named its co-founder as the head of the broadcasting company's interactive division.

Terms of the deal weren't disclosed.

Jim Lanzone, who is also the former CEO of Ask.com, will become president of CBS Interactive, a role that oversees all of that unit's worldwide operations. The company's interactive segment has benefited as advertisers are buying across both TV and the Web. The business is also expanding its presence across mobile platforms.

Lanzone held various executive roles at Ask.com, which was acquired by IAC/InteractiveCorp. (IACI) in 2005, and according to CBS, he was one of the executives most responsible for turning around Ask Jeeves prior to its sale.

He succeeds Neil Ashe, who served as president of CBS Interactive since the company acquired CNET Networks Inc. in June 2008. Ashe in December announced he would leave CBS upon the naming of a successor.

Launched in late 2009, Clicker has indexed more than 1 million online television shows, movies and videos, from free and paid services. The company has growth potential as more video content is streamed online. Clicker.com will be folded into the interactive unit's roster, which includes TV.com, CBS.com, CBSSports.com and other Internet properties.

Last month, CBS reported its fourth-quarter profit more than quadrupled as revenue and core earnings rose in each of its business segment. The company's interactive unit's display advertising revenue was up 18%, and CBS said its namesake website has been the number one TV network website for 25 straight months in terms of unique viewers.

Shares were down 3.2% at $23.58 in recent trading, amid a broad market downturn. The stock is up 24% this year.

-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

via online.wsj.com